As Ford Authority previously reported, rumors that newly-minted President Donald Trump planned on imposing universal tariffs on goods imported from a variety of countries have swirled for some time now. Given the fact that Ford currently builds and sells a number of vehicles in other countries that are then sold in the U.S., this meant that The Blue Oval was facing more of a potential impact from these proposed tariffs than most of its peers, and in that regard, more of the automaker’s more affordable models stood to be affected. However, it doesn’t seem as if Trump plans to actually implement those rumored tariffs – at least, for now.
According to a new report from The Wall Street Journal, Trump is planning to issue a memorandum directing federal agencies to evaluate U.S. trade relationships with other countries, as well as existing trade policies, but it won’t impose any new tariffs on goods. Trump will reportedly instruct those agencies to investigate existing trade deficits and rectify them, as well as address unfair currency policies and trade practices that currently exist. That includes reviews of China’s 2020 trade deal with the U.S., as well as the United States-Mexico-Canada Agreement (USMCA).
A senior official within the Trump Administration noted that this action is intended to present the vision for the President’s trade policy “in a measured way,” a more deliberate approach that would presumably lay the groundwork for potential changes. For months now, rumors have suggested that Trump planned to implement tariffs on day one of his presidency, but others have stated that such calls are merely a negotiation tactic.
Meanwhile, Ford CEO Jim Farley has stated that the automaker isn’t too concerned about any proposed policy changes Trump might have in store that could impact the automotive business, specifically. “After 120 years, we’re pretty experienced with policy change,” Farley told reporters recently. “I think Ford is very well-positioned.”
Comments
Uh, NAFTA was replaced by the USMCA in 2020…
So, no tariffs on Mustang Mach-E